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In its first month of operations, Panther Company made three purchases of merchandise in the following sequence: 200 units at $8; 250 units at $7; and 300 units at $6. There are 400 units on hand at the end of the period. Panther uses a periodic inventory

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In its first month of operations, Panther Company made three purchases of merchandise in the following sequence: 200 units at $8; 250 units at $7; and 300 units at $6. There are 400 units on hand at the end of the period. Panther uses a periodic inventory
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